First we will go as per the deffination ,the difference is :-
1.Speed-it tells us the rate at which distance(s) is travelled in time(t) by the particle (s/t).
1.Velocity-it tells us the rate at which displacement(r) is travelled in time(t) by the particle(r/t).
2.Speed-It is a scalar quantity i.e. it has only magnitude but no direction.
2.Velocity-On the other hand velocity is the vector quantity i.e. it has magnitude as well as direction.
Ex- Suppose if we see 2 objects going in opposite direction at 5m/s, we can say that both the objects are moving with same speed but we cannot say that they are moving with same velocity.